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Company registration number: 3704685







FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2023


CONTOUR DESIGN (EUROPE) LIMITED






































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CONTOUR DESIGN (EUROPE) LIMITED
 


 
COMPANY INFORMATION


Directors
Mr K Nielsen 
Miss M Iversen 




Registered number
3704685



Registered office
Lynton House
7-12 Tavistock Square

London

WC1H 9LT




Independent auditors
Menzies LLP
Chartered Accountants & Statutory Auditor

Lynton House

7-12 Tavistock Square

London

WC1H 9LT





 


CONTOUR DESIGN (EUROPE) LIMITED
 



CONTENTS



Page
Statement of financial position
1
Notes to the financial statements
2 - 5


 


CONTOUR DESIGN (EUROPE) LIMITED
REGISTERED NUMBER:3704685



STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023



2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
-
5,291

  
-
5,291

Current assets
  

Debtors due within 1 year
 5 
50,043
110,792

Debtors due after more than 1 year
 5 
6,381
4,511

Cash at bank and in hand
  
27,607
-

  
84,031
115,303

Creditors: amounts falling due within one year
 6 
(28,710)
(82,053)

Net current assets
  
 
 
55,321
 
 
33,250

Total assets less current liabilities
  
55,321
38,541

  

Net assets
  
55,321
38,541


Capital and reserves
  

Called up share capital 
  
9,250
9,250

Profit and loss account
  
46,071
29,291

  
55,321
38,541


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the income statement in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 



................................................
Miss M Iversen
Director

Date: 20 February 2024

Page 1

 


CONTOUR DESIGN (EUROPE) LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Contour Design (Europe) Limited is a private company limited by shares, incorporated in England & Wales under the Companies Act. The address of the registered office and principal place of business is disclosed on the company information page.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006

The following principal accounting policies have been applied:

 
2.2

Going concern

The company has net current assets of £55,321 at the balance sheet date. The financial statements have been prepared on a going concern basis which the Director considers to be appropriate.

In the consideration of the going concern basis the directors have considered a period of 12 months from the approval of these financial statements and any events that could impact on future cash flows

The parent company Contour Design Nordic A/S, have confirmed that they will continue to provide financial support to the Company so as to enable it to meet its liabilities as they as they fall due for a period of twelve months from the date of signing of the financial statements. They have also confirmed that they have no intentions to leave the UK market.

The director is confident that the company will have sufficient funds to continue to meet its liabilities as they fall due for at least 12 months from the approval of the financial statements and therefore have prepared the financial statements on a going concern basis.

  
2.3

Turnover

The turnover shown in the profit and loss account represents amounts receivable from the parent company in relation to marketing services provided to its parent company Contour Design Nordic A/S during the year. 

Page 2

 


CONTOUR DESIGN (EUROPE) LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.5

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

 
2.6

Fixed assets

All fixed assets are initially recorded at cost. 
Depreciation is charged so as to write off the cost of asset, less its residual value, over the useful economic life of the asset.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
Reducing balance

 
2.7

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like other debtors, trade and other creditors. 


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 -1).

Page 3

 


CONTOUR DESIGN (EUROPE) LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Plant and machinery

£



Cost or valuation


At 1 January 2023
17,869


Additions
729



At 31 December 2023

18,598



Depreciation


At 1 January 2023
12,578


Charge for the year on owned assets
6,020



At 31 December 2023

18,598



Net book value



At 31 December 2023
-



At 31 December 2022
5,291

Page 4

 


CONTOUR DESIGN (EUROPE) LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Debtors

2023
2022
£
£

Due after more than one year

Deferred tax asset
6,381
4,511

6,381
4,511

Due within one year

Amounts owed by group undertakings
14,671
98,523

Other debtors
14,614
9,165

Prepayments and accrued income
17,567
848

Deferred taxation
3,191
2,256

56,424
115,303



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
-
58,644

Trade creditors
1,895
1,470

Other taxation and social security
2,859
4,772

Other creditors
12,261
4,632

Accruals and deferred income
11,695
12,535

28,710
82,053



7.


Related party transactions

As the company is a wholly owned subsidiary, it has taken advantage of the FRS 102 exemption of disclosing transactions with the parent company.


8.


Parent company

The parent of the smallest group for which consolidated financial statements are drawn up is Contour Design Nordic A/S, incorporated in Denmark. The address of the registered office is: Borupvang 5B, st.tv. 2750 Ballerup, Denmark.


9.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 20 February 2024 by Sarah Hallam FCCA (Senior statutory auditor) on behalf of Menzies LLP.

 
Page 5